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to think that's going to change anytime soon. but i am on the lookout for something that comes along to disturb that pretty comfortable view right now. >> yeah. it's interesting, rick santelli, because we keep hearing all this talk about the great rotation, money coming out of fixed income, out of bonds, and into stocks. and so far, anybody you talk to keeps saying, who's buying? well, this newfound buying and this new momentum that we saw in 2013 is all from cash. 4 401ks, it's not coming out of bonds. >> end it so interesting that in the eight days, starting on the 28th of february, that brought us to this record, in those eight days, the range of closing yields is about 20 basis points. so the surreal effect of what's going on, not to dismiss it, but it really is surreal. i mean, as a fixed income guy, with which great run, i would have suspected interest rates to be much higher. so we do get back to the fed. i always find it fascinating that the people really talking about this great rotation, like stocks, don't want to acknowledge so much that the fed's at the epicenter. but it
to change their whole approach, right? guys are saying, revising their estimates, some as high as, excuse me, as high as 3% here in the french quartirst quarter. which means that everybody is now getting on board. there's nothing right now in the near-term that is going to slow us down. but there are a couple of things, you know, to be fair, there are some head winds you've got to look at. feds will be making some comments on the banks. they're going to be paying close attention to that. >> i think that's going to be a market mover. >> it could be. and another part of that, too, maria, is that tomorrow they're going to be releasing findings of jpmorgan's handling of the london. so you've got to be somewhat willing to be nimble on this one. >> so tomorrow we could see a sell-off. >> we could see a sell-off tomorrow, based on the financials. a little bit overdone here. but look, still in the macro scheme of things, the fact of the matter, this thing is being driven by housing, interest in housing, pent-up demand for housing, which is being spurred by low interest rates. and until the fed has d
scandal obviously has become the cloud and the trigger for you to make this change. >> yes, that's true, but i would say that across barclays we have 140,000 people who come to work every day wanting to do the right thing. partly this, of course, is stopping bad things happening but equally important it's about powering the strategy forward, creating the right culture to deliver for our customers day in and day out and to do that in what will be a much more challenging environment going forward. >> how do you do that? this is an enormous trading floor, just this one floor and you've got others. >> yes. >> how do you get that culture and everybody on the same page? >> just about being clear what you expect from the organization. communicating to people and holding them accountable and recognizing and rewarding people doing a great job for customers and clients, doing great work inside the organization and that's how you change culture. it's do believe. >> i recognize that this have a very, very controversial here in 2012, a big hit to the firm and you want to make a big push that this is
that i'll change my mind but i don't think we get over 1500 substantially this year and if we don't this year, i don't think we see that for a long time. >> doug cass came up with some statistics about today's record high environment versus the environment we saw when the market hit an all-time high the last time back in 2007. here's some stats for you, guys. gdp growth, then 2.5%, now, 1.6%. americans unemployed, then, 6.7 million, now 13.2 million. americans on food stamps, then, 26.9 million. now 47.69 million. the -- the debt outstanding, then 9 trillion. now 16.5 trillion. what does this tell you, jim? >> well, i guess -- i agree with jeff there could be a correction at some point, maria, but i think there's still a fair amount of upside. i've got a couple of thoughts i guess where we are today. one is compared to where we were, we haven't gone anywhere from ten years but look what's happened over that ten-year period of time. the multiple in the stock market has gone from 35 times earnings to 15, more than a halving of its value while the bond yield has fallen by almost thre
change over time and what's changed over the last three years, not only retail investors which i don't hold a lot of credibility to, really sustained earnings growth, really good companies making money. still don't like the economy but i like the stock market. >> everybody agree. do you worry about revenue growth, anybody else out there? >> maria -- >> revenue -- >> what i disagree with and worry about is the consumer. not people are putting weight. what about the e-mail we hear from walmart. is that totally out of window. i want to see how the corporations are doing with a consumer getting their paycheck cut and spending more money at the gas pump. i realize the market is at new highs and that's great. over the last three years, and it continues to go up. there are better opportunities to buy, and we will see a better opportunity to put money to work this year. >> rob? >> yeah, maria, i think if you look at the third quarter last year, we're going to call that probably a trough in earnings. we had no earnings growth and back to your point about revenues, revenues very bad for that q
>>> two >>> two minutes left. the only number we're watching right now is the change on the dow. if it remains green, we get a new all-time high right now. in fact, the dow is the laggard of the three major averages. the nasdaq and s&p percentage wise have better gains than the dow right now. and you might think, albert free, that the market, in honor of the new pope, would go cardinal red at the end, but we're going to remain green. how long do you stay with it? do you buy protection? >> i would be buying protection if i'm going to spend money. i would not want to create any new long positions in a market like. as i said last friday, i didn't want to go home long. you've got an opportunity to buy monday and that was it. the money on the sidelines, whether it's coming out of bonds, if you don't believe it, that's fine. but the money not going into bonds, is sitting on the sideline. every time this market dips, money is coming in. that trend is going to break, i believe, eventually, but right now i wouldn't create any new positions, but i would have some protection. >> we have ta
that, i think the world has changed and we have to recognize the big picture here. number one, bank business models are not the same they used to be. they're not the great investments they used to be. number two, as far as theov overall economic situation is concerned whether you're looking at bank debt or government debt we have too much. somebody has to pay for it. we have to introduce austerity to the system. we have to introduce bank writeoffs. we have to bring the system back to a more normal state. that's going to take a long time to repair. it's going to hold growth down for a considerable period of time. it's going to make the likelihood of policy mistakes higher than they are normal. >> that's why what happened today was very important. everybody agrees it was a blunder to include insured depositors in having to pay for part of this. >> i don't agree it was a blunder. >> all right. >> depositors are going to pay one way or another. they're not innocent bystanders. >> i apologize. i think it's a blunder to include them. okay? depositors are unsecured creditors. thank you. i
-orders on the z-10 this week. blackberry seen its best gains since changing its name from r.i.m. a month ago. >> thank you so much. technology stocks meanwhile dividend plays? that's what's happening in the market. we'll have a report on dividend payers. and then a frenzy of activist investors on wall street pushing to split the roles of chairman and krchleco. coming up, i'll talk to a former ceo. and a new controversial book from sheryl sandberg asserting women hold themselves back in the work place. we'll talk to the female ceo of hsn for reaction. but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith stoddard and i helped create the fidelity guided portfolio summary. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> welcome back. when you think about dividend play, you don't usually think about technology stocks
-time high with a gain of 33.5 points, a quarter of a percent higher at 14,329 and change. that the highest level the dow has ever closed at. nasdaq composite also picks up ground today, of course, well below its all-time high but still up almost ten points on the session, about one-third of a percent and the s&p 500, broad-based rally there, up about three points on the s&p. 1544 is where that index settles out. the dow continuing to make new record highs for the third session in a row. s&p 500 hitting multi-new year highs but the key date traders are watching is the february jobs report out tomorrow morning how do the numbers impact the market? joining me now to talk about that is ben pace, scott wrenn from wells fargo advisers and our own rick santelli. jack welch will be along momentarily. let's talk about tomorrow and navigate what we may see. what are you expecting out of jobs report? >> expecting a decent number in the 150 to 175 range but what it will be is a confirmation from what we're starting to see from an economics statistics standpoint is businesses are starting to spend, bet
opinion, these programs won't change until he's gone and maybe not until after he's gone, i don't know. 21 basis points what ten-year yields run on the week. of course, we all talk about how that 85 billion of qe is positive for stocks, but there's still a pulse on some level of interest rates, and i know that some very large bond managers were tweeting today, probably a good time to start considering buying treasuries. i can't disagree with that. i think that it is just unrealistic to think that we're going to get some big tipping effect with the fed's purchase program at this level and at this point in time so, you know, seeing both markets move up together, rates and stocks, was very reminiscent for me. that's the way it's supposed to work, but it won't be working this way for very much longer. >> brian, what do you think? where are you on this market ral? >> well, i think we have a lot of room to go here over the course of the year. there's a lot of retail money still on the sidelines. i think they have just begun to tip their toe in, and i agree with rick that bernanke is going to con
open an account. ca >>> welcome back. no all-time high for the s&p 500 today, but that hasn't changed my next guest's bullish call on stocks. in fact, he's so bullish, he has a year-end target on the s&p of 1673. that's more than a 100-point gain from here. s&p today closing at 1560. that makes sean darby of jeffries the most bullish analyst ton street and joins me with a nonbeliever calls for a 20% or more correction beginning within a month. we're talking about walt zimmerman. good to see you guys in our old-fashioned bull/bear debate. sean, why the raging bullishness? >> i think this market has been setting up for higher highs since november of last year. we've had an extraordinary period of share buybacks, which has meant that the market is being squeezed continually by the companies actually buying back shares of very, very, very, very small free floats. secondly, people's expectations on earnings were very poor going into the end of the year, and we've been seeing those numbers being revised up. thirdly, the breadth of the stock market is telling you that there's a lot more goin
and it's an unwind from the bond market and risk exposure going forward to rate changes on the other hand. so it's both a flight to safety as well as, you know, what's really going on domestically and people are looking at a twist now with the fed and what their posture will be heading forward. >> i'll be back, adobe earnings at the top of the hour. >> take care, maria. >> what do you think? we're finishing positive here. this market doesn't want to go up? you think some of that's short covering? >> i think that's what we're see right now. finishing up the day. right now people will have to play it cautiously. we haven't seen the end of the cyprus thing. we have some negotiating going on from russia. the impact of that, as you mentioned, is a little minor relative to the size and scope of them, but it's whether or not that moves into italy, spain, as we've all been talking about. >> the contagion. thanks, terry, good to see you. looks like we will finish positive, so we will not get three consecutive down days, which hasn't happened yet in 2013, as we close out this tuesday in this day of
've been coming down. so it's this change at the margin that matters to the fed. what they talk about is, what is the outlook for the labor market. is it getting better or is it getting worse? most of them expect it to get better. they want to see proof. they want to see the numbers that it actually is getting better. that means there won't be any discussion of pulling back on quantitative easing, for at least another four to five months. but if the world, if the labor market unfolds as they expect, that conversation will be very much on the table, by the fourth quarter. >> greg, what did you make of kocherlokota's comments earlier this morning or this afternoon about the fact that the fed needs to be more aggressive, they're not being aggressive enough. he'd like to see that target unemployment rate at 5.5%. is he just trying to start the conversation around the table at the fed or not? and how many people do you think on the fed would agree with his projections? >> kocherlakota is a very interesting guy. a few years ago, you would have called him the least sympathetic. he has completel
are seeing a change, a reversal on actual corporate spending on technology, that would be a red flag. what do you see? >> yeah, well, oracle's a barometer in the space. and this is probably going to create some caution in terms of the expectations and overall i.t. spending right now. and, really, the level of priority in terms of i.t. spending. so, obviously, guidance is going to be critical. but this is going to be a little negative for the software space for tomorrow. >> all right. bottom lain here, derek, would you put new money to work right here in oracle at $33.74 a share? >> q4 tends to be their best quarter, so we would be taking advantage of weakness and buying into what historically is a strong quarter in q4. >> all right, thank you, derek, thank you, jon. i'm back with ron insana and rick santelli. ron insana, we for you on earnings, we're hear debating the quality of earnings that we're seeing and what we are going to see in 2013. what's your take on what things look like, based on what you've seen so far? >> well, actually, maria, when i look at the earnings, people are worried a
evolving and changing. i think the fed has already been up-front enough to say, you can see what they're doing, as they're doing it. but i think you're going to see some change in their psychological into the second half of this year, for sure. >> we'll see what happens. thanks, terry. always good to see you. thanks for stopping by. the dow will finish in all-time high territory. the ninth or tenth time in this rally for this year. the s&p, still very close, doesn't look like they'll do it. i'm hanging on to this coffee iou, as we head into the second hour of the "closing bell." stay tuned. >>> and there is the gavel. it is 4:00 p.m. on wall street. welcome to the "closing bell." history in the making again for the dow jones industrial average. si i'm sue herrera in for maria bartiromo. bill griffeth is at the starbucks cafe, cashing in on the iou. he'll join me in a moment. the dow closing in another record. the s&p 500, so darn close. right now, not there, but we'll see whether they settle it out there. here's how we're finishing the day on wall street. the dow does finish in record
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. >> the number you would get, it changes on a daily basis. >> constantly, constantly. >> down 87 points here. we keep waiting for this correction. do you think we're going to be there at some -- it seems that each time we get this sell-off, somebody comes in to buy it up. >> again, the programs come in and buy it right up. you would like to see a correction, you would like to see this market correct, wash out a lot of things, but i don't think it's going to happen right now. i really don't. i think this market, as long as the feds keep injecting $85 billion a month, it's going to keep drifting up. it's going to leak up, like i say. >> well, it's leaking down right now, alan valdez. thanks for being with us here. we're heading towards the low. at the low of the day, we were down 128 points. right now, down about 88 on the dow jones industrial average. and again, we honor those members of the military who have received the highest award for valor, the congressional medal of honor. they are ringing today's "closing bell." that's it for the first hour. stay tuned now for the second hour of the "clos
if that tells us anything about the upcoming first quarter reporting season. david sowerby, are you changing your behavior in any way as a result of what we saw in earnings this week? >> no, i'm not. i think the longer term case for stocks is still very much in tact. and more retail and institutional investors will be rotating into stocks. in the very near term, don't be surprised if europe wins the tug-of-war in a near-term. that it's still going to be more problematic than wall street is expecting. and this week is a bit of a microcosm of that. we saw small-cap stocks down more than large-cap stocks, emerging markets down more than markets. >> yeah, it's amazing, david. because even though this market has been rallying since november, october, actually, 2012, valuations, 13 p.e., 14 or 15 p.e., when you look at forward looking. still, during the dot-com era, it was 27 p.e. valuations are not stretched by any stretch of the imagination. what you want to watch, maria, the strong dollar this year is going to hurt the overseas profits that they bring back into dollars. >> the currency, yeah. >
and change, the next day the market comes back. there have been so many people on cnbc and elsewhere, a lot of clients of ours, that are waiting for that pullback. nobody really wants to wait for that huge pullback of 400, 500 points. they're saying, 100 points, i might take that. i expect to see that a little bit tomorrow. money coming into this weakness today. >> david kelly, you know, the word "template" never took on so much importance as it did today. weigh in on that controversy. and put cyprus in perspective for us in terms of the rest of europe and the market. >> well, first of all, cyprus should not have been that difficult to solve. this problem was really too small to fail. we only needed to come up with 6 billion euros to deal with the problem. but i think the problem coming out of europe is they're capable of coming up with a financial fix. but they're not capable of dealing with an economic mess. this simple -- this simple program for cyprus is going to leave the country destitute. when you think about the people of cyprus, the people of italy, the people of ireland, portugal,
tighten monetary policy. now he's completely changed his view. he says no we've got to remain loose with the monetary policy for the foreseeable future. and that's supporting this market too, don't you think? >> i would think it has a positive effect on the market. because as long as there's loose money, there's going to be -- you know, we're going to see a rising market. there's no two ways about it. it may take more because now that we're at a high level. but we're definitely going to continue to see this going through. >> i'm going back to the next hour. see you tomorrow, bill. >> have a good next hour here. we have jobs number on friday. >> yes. >> that's probably what we're all going to be focusing on for the next few days here. that'll be the big one. >> yes. >> any expectations? >> i think we're going to continue to see -- >> that's what the fed's watching as much as anything. >> i think we'll see unemployment numbers go down. i think we'll see that. where i look at it, i think one of your guests said something about late 2014 getting around the level. i think we'll probably
Search Results 0 to 19 of about 20